Common use of Rescission of Acceleration Clause in Contracts

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1, the Required Holder(s) may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the Notes which has become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 2 contracts

Samples: Restructuring Agreement (Boots & Coots International Well Control Inc), Subordinated Note Restructuring Agreement (Prudential Insurance Co of America)

AutoNDA by SimpleDocs

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 7A, the Required Holder(s) Holders may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the and Yield-Maintenance Amount, if any, payable with respect to any Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 12C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring AgreementAgreement (as this Agreement pertains to the Notes). No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 2 contracts

Samples: Note Purchase and Private Shelf Agreement (Alexander & Baldwin, Inc.), Alexander & Baldwin, Inc.

Rescission of Acceleration. At any time after any or all of the Notes Loans and any other Obligations shall have been declared immediately due and payable pursuant to Section 8.18.2, the Required Holder(s) Lenders may, by notice in writing to the CompanyBorrower, rescind and annul such declaration and its consequences if (i) the Company Borrower shall have paid all overdue interest on the NotesLoans, the principal of the Notes Loans which has become due otherwise other than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Noteshereunder, (ii) the Company Borrower shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Defaults and Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.310.1, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes Loans or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefrom.

Appears in 2 contracts

Samples: Loan Agreement (Guerrilla RF, Inc.), Loan Agreement (Guerrilla RF, Inc.)

Rescission of Acceleration. At any time after any or all of the Notes Loans and any other Obligations shall have been declared immediately due and payable pursuant to Section 8.18.2, the Required Holder(s) Lenders may, by notice in writing to the CompanyBorrowers, rescind and annul such declaration and its consequences if (i) the Company Borrowers shall have paid all overdue interest on the NotesLoans, the principal of the Notes Loans which has become due otherwise other than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Noteshereunder, (ii) the Company Borrowers shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Defaults and Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.310.1, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes Loans or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Loan Agreement (Guerrilla RF, Inc.)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 7A, the Required Holder(s) may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the and Yield-Maintenance Amount, if any, payable with respect to any Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the rate specified in the NotesDefault Rate, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 12C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Note Agreement (Gorman Rupp Co)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 7A, the Required Holder(s) of the Notes may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the and Yield-Maintenance Amount, if any, payable with respect to any Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 12C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Note Purchase Agreement (American Biltrite Inc)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 8A, the Required Holder(s) may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the and Yield-Maintenance Amount, if any, payable with respect to any Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield- Maintenance Amount, if any, at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 12C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Subordinated Note and Warrant Purchase Agreement (Hallwood Consolidated Resources Corp)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 8A, the Required Holder(s) may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the Notes which has become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 12C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Subordinated Note and Warrant Purchase Agreement (Equity Compression Services Corp)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 10A hereof, the Required Holder(s) Significant Holder may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the any principal of the payable with respect to Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Defaults and Events of Default and DefaultsDefault, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 17C hereof, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Securities Purchase Agreement (Decrane Aircraft Holdings Inc)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 8A, the Required Holder(s) may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the payable with respect to any Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 12C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Subordinated Note and Warrant Purchase Agreement (Air Cure Technologies Inc /De)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 7A, the Required Holder(s) Holders of the Notes may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company Issuer shall have paid all overdue interest on the Notes, the principal of the and Yield-Maintenance Amount, if any, payable with respect to any Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the rate specified in the Notes, (ii) the Company Issuer shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 11C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Note Purchase Agreement (Newmarket Corp)

Rescission of Acceleration. At any time after any or all of the Notes Note shall have been declared immediately due and payable pursuant to Section 8.1clause (ii) or (iii) of paragraph 7B, the Required Holder(s) Holders of at least two-thirds of the principal amount of Notes at the time outstanding may, by written notice in writing to the Company, rescind and annul any such declaration and its consequences with respect to the Notes if (i) the Company shall have paid all overdue interest on the Notesinterest, the principal of the Notes and Make Whole Amount payable with respect to any Note which has have become due otherwise than by reason of such declaration, and including any interest on any such overdue interest interest, principal and overdue principal Make Whole Amount, at the rate amount specified therein or otherwise in the Notesthis Agreement, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph I 1 B, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring AgreementTransaction Documents solely by reason of such declaration. No such rescission or annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Note Purchase Agreement (Smithfield Foods Inc)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1Paragraph 7A, the Required Holder(s) Holders may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the any Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3Paragraph 11C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Note and Warrant Purchase Agreement (Women First Healthcare Inc)

Rescission of Acceleration. At any time after any or all of the Guaranteed Senior Secured Escrow Notes shall have been declared immediately due and payable pursuant to Section 8.1subsection (b), the Required Holder(s) Holders may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Guaranteed Senior Secured Escrow Notes, the principal of the any Guaranteed Senior Secured Escrow Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Guaranteed Senior Secured Escrow Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring AgreementGuaranteed Senior Secured Escrow Notes. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Agreement and the Ancillary Agreements Represent the Final Agreement (Intracel Corp)

Rescission of Acceleration. At any time after any or all of the Project Notes shall have been declared immediately due and payable pursuant to Section 8.19.1 hereof, the Required Holder(s) may, by notice in writing to the CompanyBorrower, rescind and annul such declaration and its consequences if (ia) the Company Borrower shall have paid all overdue interest on the Project Notes, the principal of the and Yield-Maintenance Amount, if any, payable with respect to any Project Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield-Maintenance Amount at the rate specified in the Project Notes, (iib) the Company Borrower shall not have paid any amounts which have become due solely by reason of such declaration, (iiic) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.311.14, and (ivd) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Project Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Bond Purchase and Loan Agreement (Franklin Electric Co Inc)

AutoNDA by SimpleDocs

Rescission of Acceleration. At The provisions of 7A are subject to the condition that if the principal of and accrued interest on all or any time after any or all of the outstanding Notes shall have been declared immediately due and payable pursuant to Section 8.1by reason of the occurrence of any Event of Default described in paragraphs (i) through (vii), inclusive, or (xii), (xiii) and (xiv) of 7A, the Required Holder(s) Holders may, by notice in writing to written instrument filed with the Company, rescind and annul such declaration and its the consequences if (i) the Company shall have paid all overdue interest on the Notesthereof, the principal of the Notes which has become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal provided that at the rate specified in the Notes, time such declaration is annulled and rescinded: (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3, and (iva) no judgment or decree shall have has been entered for the payment of any amounts monies due pursuant to the Notes or this Restructuring Agreement. No ; (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium on the Notes which has become due and payable solely by reason of such declaration under 7A) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to 11C; and provided further, that no such rescission or and annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefrom.consequent thereto. C.

Appears in 1 contract

Samples: Joinder Agreement (NPC International Inc)

Rescission of Acceleration. At any time after any or all of the Notes Note shall have been declared immediately due and payable pursuant to Section 8.1SUBPARAGRAPH (B) or (C) of PARAGRAPH 11.1, the Required Holder(s) Holders may, by written notice in writing to the Company, rescind and annul any such declaration and its consequences with respect to the Notes if (i) the Company shall have paid all overdue interest on the Notesinterest, the principal of the Notes and Make-Whole Amount payable with respect to any Note which has have become due otherwise than by reason of such declaration, and including any interest on any such overdue interest interest, principal and overdue principal the Make-Whole Amount, at the rate specified in the NotesDefault Rate, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3PARAGRAPH 16, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring AgreementTransaction Documents solely by reason of such declaration. No such rescission or annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Note Purchase Agreement (Virginia Gas Co)

Rescission of Acceleration. At The provisions of SECTION 7.3 are subject to the condition that if the principal of and accrued interest on all or any time after any or all of the outstanding Notes shall have been declared immediately due and payable pursuant to Section 8.1by reason of the occurrence of any Event of Default described in paragraphs (a) through (h), inclusive, of SECTION7.1, the Required Holder(s) holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by notice in writing to written instrument filed with the CompanyIssuer, rescind and annul such declaration and its the consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the Notes which has become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal thereof provided that at the rate specified in the Notes, time such declaration is annulled and rescinded: (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3, and (iva) no judgment or decree shall have has been entered for the payment of any amounts monies due pursuant to the Notes or this Restructuring Agreement. No Agreement (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium on the Notes which has become due and payable solely by reason of such declaration under SECTION 7.3) shall have been duly paid and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to SECTION 8.1 and provided further, that no such rescission or and annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefromconsequent thereto.

Appears in 1 contract

Samples: Dollar Tree (Dollar Tree Stores Inc)

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 8A (other than pursuant to clauses (vii), (viii) or (ix) thereof), the Required Holder(s) holder or holders of at least a majority of the aggregate principal amount of Notes then outstanding may, by notice in writing to the CompanyObligors, rescind and annul such declaration and its consequences if (i) the Company Obligors shall have paid all overdue interest on the Notes, the principal of the Notes which has become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Notes, (ii) the Company Obligors shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 12C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Note Agreement (Lee Enterprises, Inc)

Rescission of Acceleration. At The provisions of Section6.3 are subject to the condition that if the principal of and accrued interest on all or any time after any or all of the outstanding Notes shall have been declared immediately due and payable pursuant to Section 8.1by reason of the occurrence of any Event of Default described in paragraphs (a) through (i), inclusive, of Section6.1, the Required Holder(s) holders of 66-2/3% in aggregate principal amount of the Notes then outstanding may, by notice in writing to written instrument filed with the Company, rescind and annul such declaration and its the consequences if (i) the Company shall have paid all overdue interest on the Notesthereof, the principal of the Notes which has become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal provided that at the rate specified in the Notes, time such declaration is annulled and rescinded: (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3, and (iva) no judgment or decree shall have has been entered for the payment of any amounts monies due pursuant to the Notes or this Restructuring Agreement. No ; (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium on the Notes which has become due and payable solely by reason of such declaration under Section6.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section7.1; and provided further, that no such rescission or and annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefromconsequent thereto. .c.Section 7.

Appears in 1 contract

Samples: Carter Wallace Inc /De/

Rescission of Acceleration. At any time after any or all of the Notes Convertible Debentures shall have been declared immediately due and payable pursuant to Section 8.19.01, the Required Holder(s) may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the NotesConvertible Debentures, the principal of the Notes payable with respect to any Convertible Debentures which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the NotesConvertible Debentures, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.310.03, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes Convertible Debentures or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Convertible Debenture Purchase Agreement (Air South Airlines Inc)

Rescission of Acceleration. At The provisions of Section 7.3 are subject to the condition that if the principal of and accrued interest on all or any time after any or all of the outstanding Notes shall have been declared immediately due and payable pursuant to by reason of the occurrence of any Event of Default described in paragraphs (a) through (h), inclusive, of Section 8.17.1, the Required Holder(s) holders of a majority in aggregate principal amount of the Notes then outstanding may, by notice in writing to written instrument filed with the Company, rescind and annul such declaration and its the consequences if (i) the Company shall have paid all overdue interest on the Notesthereof, the principal of the Notes which has become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal provided that at the rate specified in the Notes, time such declaration is annulled or rescinded: (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3, and (iva) no judgment or decree shall have has been entered for the payment of any amounts monies due pursuant to the Notes or this Restructuring Agreement. No ; (b) all arrears of interest upon all the Notes and all other sums payable under the Notes and under this Agreement (except any principal, interest or premium, if any, on the Notes that has become due and payable solely by reason of such declaration under Section 7.3) shall have been duly paid; and (c) each and every other Default and Event of Default shall have been made good, cured or waived pursuant to Section 7.1; and provided further, that no such rescission or and annulment shall extend to or affect any subsequent Default or Event of Default or Default or impair any right arising therefromconsequent thereto or the right of any holder to elect to convert any Note. SECTION 8.

Appears in 1 contract

Samples: Dental Medical Diagnostic Systems Inc

Rescission of Acceleration. At any time after any or all of the Notes shall have been declared immediately due and payable pursuant to Section 8.1paragraph 7A, the Required Holder(s) may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Notes, the principal of the and Yield-Maintenance Amount and Breakage Cost Obligations, if any, payable with respect to any Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal and Yield Maintenance Amount and Breakage Cost Obligations at the rate specified in the Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3paragraph 11C, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring Agreement. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Note Purchase Agreement (GMX Resources Inc)

Rescission of Acceleration. At any time after any or all of the Guaranteed Senior Secured Primary Notes shall have been declared immediately due and payable pursuant to Section 8.1subsection (b), the Required Holder(s) Holders may, by notice in writing to the Company, rescind and annul such declaration and its consequences if (i) the Company shall have paid all overdue interest on the Guaranteed Senior Secured Primary Notes, the principal of the any Guaranteed Senior Secured Primary Notes which has have become due otherwise than by reason of such declaration, and interest on such overdue interest and overdue principal at the rate specified in the Guaranteed Senior Secured Primary Notes, (ii) the Company shall not have paid any amounts which have become due solely by reason of such declaration, (iii) all Events of Default and Defaults, other than non-payment of amounts which have become due solely by reason of such declaration, shall have been cured or waived pursuant to Section 12.3, and (iv) no judgment or decree shall have been entered for the payment of any amounts due pursuant to the Notes or this Restructuring AgreementGuaranteed Senior Secured Primary Notes. No such rescission or annulment shall extend to or affect any subsequent Event of Default or Default or impair any right arising therefrom.

Appears in 1 contract

Samples: Agreement and the Ancillary Agreements Represent the Final Agreement (Intracel Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.